ReOrient global Keynesianism (4) - Liu

["g kohler" <kohlerg@xxxxxxxx>]

ReOrient global Keynesianism (4) - Liu

Henry C.K. Liu's ideas (see, Asia Times Online and postings to this forum)
are interesting with respect to my topic of ReOrient etc. One can
distinguish between "national Keynesianism" (see also Tabb, who uses this
expression in "The Amoral Elephant", 2001) and "world-system-level
Keynesianism". One author in JPKE argued a while ago that the viability of
national Keynesianism has been eroded by recent globalization trends. In the
posting by Liu (below), both the national-system and world-system levels are
recognized, distinct and meaningfully related to each other.

Gernot Köhler

(Disclaimer: I do not receive any remuneration from Liu Investments, New
York, for quoting Chairman Liu)

--------------------------- Liu text ------------------------
source: from a pkt posting "Re: End of the Business Cycle?" by Henry C.K.
Liu,19 December 2002

[about a hypothetical political leader:]
[quote]
I would think that a PK influenced CEA would advocate a policy towards

[A. national system level]
. . .
[A1] massive government credit for infrastructure, restructuring and
[A2] credit allocation policy based on balanced growth, rather than allowing
credit allocation to be determined by the price of money- interest rates.
[A3} regulating of transportation, communication, national health care,
mutualization of insurance, public education and social security, rather
than the Bush tax cut.  Also
[A4] full employment as a policy goal and manage monetary policy to
accommodate it. .
[A5] Reform corporate accounting standards to prevent balance sheet
manipulation to produce phantum profits while destroy real production.

[B. world-system level]
. . .
[B1] put trade back in proper balance, in an auxiliary role rather than the
main path for growth.  The emphasis should be to
[B2] boost global aggregate demand, and not just maintaining the US as a
market of last resort for Third World exports. . . .
[B3] launch a new international finance architecture, re-introduce foreign
exchange control, regulate international financial markets, and regulate the
banking and financial system.

[end quote] [I inserted some numbers and brackets, in order to accentuate
the conceptual structure]
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["ReOrient" in the title, with a capital "O", is a logo originating from a
book title by Andre Gunder Frank.]